3615 Springdale Ave · Baltimore, MD 21216

$250,000

4 bd · 3.5 ba · 3,702 sqft · Townhouse public records · 43 Days on market

Built 1920 6,570 sqft lot $68/sqft · 42% below area Est $434k · 42% under

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Why this score? — see what drove the C- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +16.3/30.0
• ARV discount +15.0/15.0
• DSCR +5.1/10.0
• 1% rule +4.8/10.0
• Rent growth +4.0/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

* Short Sale has been approved. .. . * INVESTMENT OPPORTUNITY!!! BUY AND HOLD OR FLIP!!! VERY LARGE TWO UNIT HOME ON QUIET BLOCK. EACH UNIT IS SEPARATELY ZONED WITH ITS OWN ENTRANCE AND FEATURES 2 LARGE BEDROOMS AND 1 BATH. THE PROPERTY ALSO FEATURES A 2 CAR GARAGE WHICH CAN BE USED FOR ADDITIONAL INCOME. MOTIVATED SELLER!! HVAC, electrical and sub-pump systems have been updated and is freshly painted.

Key facts

• Updated systems
• Separately zoned
• Freshly painted

Tags

• INVESTMENT OPPORTUNITY
• QUIET BLOCK
• SEPARATELY ZONED
• OWN ENTRANCE
• UPDATED SYSTEMS
• FRESHLY PAINTED

Property features AI

Finance

• Other: Ownership is fee simple

Exterior

• Parking: Detached front-entry garage with 2 garage spaces; Total of 2 garage/parking spaces
• Utilities: Public water; Public sewer
• Home design: Detached structure; Finished and unfinished area details reported by assessor; Finished above-grade area reported (3,702); Below-grade unfinished area reported (1,664)
• Construction: Frame construction; Slab foundation; Other structures above and below grade
• Exterior features: No tidal water on the lot

Interior

• Bedrooms: Two bedrooms on the main level; Two bedrooms on the upper level
• Bathrooms: One full bathroom on the main level; One full bathroom on the upper level; Two full bathrooms total
• Heating & cooling: Forced air heating; Electric cooling
• Interior features: Basement present (other type); Above-grade finished living area reported by assessor

What this means for you Summary

Snapshot

• This is a 4-bed/3.5-bath townhouse listed at $250k.

Deal economics

• At list price, monthly cash flow is $139 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $245k (2.0% below list).
• Recommended offer: $242k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 76/100 on livability (#90 in MD, #3,396 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, housing A+; Watch: schools D, crime F.
• Baltimore City Public Schools (urban): math 7% / reading 16% proficiency, ranked #24 of 24 in MD (top 100%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 79% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+6.1%/yr); 252 active listings in the ZIP; 2 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 1,273 units permitted in Baltimore city in 2024 (1,104 in 5+ unit buildings).
• At $2,449/mo this rent would consume 70% of the median local household income ($42k/yr) (locally 2264% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Baltimore County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($242k) is reasonable based on typical stale-listing flexibility.
• 14 sale attempts since 13y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wind risk, 24% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $242,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.98% ✗
• Cap rate: 6.96%
• Cash-on-cash: 2.38%
• DSCR: 1.11
• GRM: 8.5

CMA / ARV

• ARV (median comp): $433,612
• List price: $250,000
• Delta: -42.34%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3603 Springdale Ave	0.05mi	5/2.5 (+1)	4,044 (+9%)	3mo	$360,000	$89	71

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 6.1% rent growth · sell at horizon

5-year hold

• IRR: -9.0%
• Equity multiple: 0.66×
• Total profit: $-23,717
• Equity at exit: $37,276

10-year hold

• IRR: 4.4%
• Equity multiple: 1.36×
• Total profit: $25,499
• Equity at exit: $21,615

Cash invested: $70,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (CITY): 12 Strongly Tenant-Friendly
• State Maryland: 27 Tenant-Leaning · D+14
• County: — inherits STATE
• City Baltimore: 12 Strongly Tenant-Friendly · D+58

Just-cause for tenancies > 1 yr.

Methodology + full state rankings →

ZIP-level market 21216

• Rents YoY: 6.1%
• Active inventory: 252
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $2,449 medium
• Mortgage (P&I): −$1,311
• Tax from tax record: −$381 /mo · $4,573/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$514
• Net cashflow: $139

Break-even live

Break-even rent $2,274

Max offer price $250,000

Occupancy floor 89%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4029 Fairview Ave Baltimore, MD	5.0	4.5	2653	$3,200	$1.21	43d	1	0.37mi
3414 Alto Rd Unit 2ND Baltimore, MD	3.0	1.0	2824	$2,000	$0.71	23d	1	0.48mi

Listing history 50 events

1. 2026-06-18
   days on market $250,000 Active 43 DOM
2. 2026-06-17
   days on market $250,000 Active 42 DOM
3. 2026-06-16
   days on market $250,000 Active 41 DOM
4. 2026-06-15
   days on market $250,000 Active 40 DOM
5. 2026-06-13
   days on market $250,000 Active 38 DOM
6. 2026-06-09
   days on market $250,000 Active 34 DOM
7. 2026-06-08
   days on market $250,000 Active 33 DOM
8. 2026-06-07
   remarks 460-char remark
9. 2026-06-07
   days on market $250,000 Active 32 DOM
10. 2026-06-04
    days on market $250,000 Active 29 DOM
11. 2026-06-03
    days on market $250,000 Active 28 DOM
12. 2026-06-02
    days on market $250,000 Active 27 DOM
13. 2026-06-01
    days on market $250,000 Active 26 DOM
14. 2026-05-31
    days on market $250,000 Active 25 DOM
15. 2026-05-06
    historical

    Show marketing remark (406 chars)

    * Short Sale has been approved. .. . * INVESTMENT OPPORTUNITY!!! BUY AND HOLD OR FLIP!!! VERY LARGE TWO UNIT HOME ON QUIET BLOCK. EACH UNIT IS SEPARATELY ZONED WITH ITS OWN ENTRANCE AND FEATURES 2 LARGE BEDROOMS AND 1 BATH. THE PROPERTY ALSO FEATURES A 2 CAR GARAGE WHICH CAN BE USED FOR ADDITIONAL INCOME. MOTIVATED SELLER!! HVAC, electrical and sub-pump systems have been updated and is freshly painted.

16. 2026-05-06
    listed $250,000 Active 366-char remark

    Show marketing remark (406 chars)

    * Short Sale has been approved. .. . * INVESTMENT OPPORTUNITY!!! BUY AND HOLD OR FLIP!!! VERY LARGE TWO UNIT HOME ON QUIET BLOCK. EACH UNIT IS SEPARATELY ZONED WITH ITS OWN ENTRANCE AND FEATURES 2 LARGE BEDROOMS AND 1 BATH. THE PROPERTY ALSO FEATURES A 2 CAR GARAGE WHICH CAN BE USED FOR ADDITIONAL INCOME. MOTIVATED SELLER!! HVAC, electrical and sub-pump systems have been updated and is freshly painted.

17. 2026-05-06
    listed $250,000 Active

    Show marketing remark (406 chars)

    * Short Sale has been approved. .. . * INVESTMENT OPPORTUNITY!!! BUY AND HOLD OR FLIP!!! VERY LARGE TWO UNIT HOME ON QUIET BLOCK. EACH UNIT IS SEPARATELY ZONED WITH ITS OWN ENTRANCE AND FEATURES 2 LARGE BEDROOMS AND 1 BATH. THE PROPERTY ALSO FEATURES A 2 CAR GARAGE WHICH CAN BE USED FOR ADDITIONAL INCOME. MOTIVATED SELLER!! HVAC, electrical and sub-pump systems have been updated and is freshly painted.

18. 2026-05-06
    historical

    Show marketing remark (406 chars)

    * Short Sale has been approved. .. . * INVESTMENT OPPORTUNITY!!! BUY AND HOLD OR FLIP!!! VERY LARGE TWO UNIT HOME ON QUIET BLOCK. EACH UNIT IS SEPARATELY ZONED WITH ITS OWN ENTRANCE AND FEATURES 2 LARGE BEDROOMS AND 1 BATH. THE PROPERTY ALSO FEATURES A 2 CAR GARAGE WHICH CAN BE USED FOR ADDITIONAL INCOME. MOTIVATED SELLER!! HVAC, electrical and sub-pump systems have been updated and is freshly painted.

19. 2026-03-11
    price $245,000
20. 2026-03-11
    price $245,000
21. 2026-02-12
    listed $285,000 Active
22. 2026-02-12
    listed $285,000 Active
23. 2026-02-12
    historical
24. 2025-10-27
    historical
25. 2025-10-27
    listed $285,000 Active
26. 2025-08-28
    price $305,000
27. 2025-08-12
    listed $315,000 Active
28. 2025-08-10
    historical
29. 2023-03-08
    soldstatus $280,000
30. 2022-11-14
    status Pending
31. 2022-11-14
    historical
32. 2022-10-20
    listed $280,000 Active
33. 2022-07-01
    status Pending
34. 2022-07-01
    historical
35. 2022-05-02
    price $150,000
36. 2022-04-14
    listed $15,000 Active
37. 2022-02-23
    status Pending
38. 2022-02-23
    historical
39. 2021-11-12
    listed $150,000 Active
40. 2019-07-08
    soldstatus $120,000
41. 2019-04-19
    soldstatus $120,000 Closed
42. 2019-04-12
    status Pending
43. 2019-03-27
    status Active
44. 2019-03-22
    historical
45. 2019-02-14
    historical Active Under Contract
46. 2019-01-31
    listed $95,000 Active
47. 2016-05-02
    soldstatus $30,000
48. 2016-05-02
    soldstatus $30,000
49. 2016-05-02
    listed $30,000
50. 2015-07-15
    historical

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast MD · Partial reset (capped growth)

• Current annual tax: $4,573 · $381/mo
• Projected year-2 tax: $4,573 · $381/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥104°F today · 15 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 24% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,393
• − Mortgage interest: −$14,004
• − Property taxes: −$4,573
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,351
• − Management: −$2,351
• − Depreciation: −$7,273
• Taxable loss: −$2,410
• Est. tax savings @ 24.0%: +$578
• After-tax cash flow: $2,243/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Baltimore City Public Schools
• NCES district ID: 2400090
• Math proficiency: 7% ▼ -9.00%
• Reading proficiency: 16% ▼ -5.00%
• Median HH income: $42,108
• Composite: 10.08/100
• National rank: #9805
• State rank: #24 of 24 in MD

Livability — Baltimore

• Score: 76/100
• State rank: #90
• US rank: #3396

Category grades

Amenities A+ Commute A+ Cost of living A- Crime F Employment C Housing A+ Health & safety A+ User ratings D-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Baltimore, MD
• County: Baltimore City · 558,601 people
• City population: 588,727
• Metro: Baltimore-Columbia-Towson, MD
• Population (ZIP): 29,426
• Household income: $42,031
• Rent vs Own: 49.8% rent · 50.2% own
• Severe rent burden: 2264.0

Population outlook (Baltimore County) Hauer SSP2

• Today (2025): 624,249 people
• By 2030: 621,541 · -0.4%
• By 2040: 609,756 · -2.3%
• By 2050: 597,249 · -4.3%
• By 2075: 552,236 · -11.5%
• By 2100: 513,934 · -17.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (91%)
• Race & ethnicity: Black 91% Hispanic / Latino 4% Two or more races 3% White 2%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 3% French/Haitian/Cajun 1%

Political lean MEDSL · Baltimore

• 2024 margin: Solid D (+73.0) · D 85.2% · R 12.2% · Other 2.6%
• 2008→2024 swing: -2.5pp toward R · 2008: 75.5pp · 2024: 73.0pp
• All cycles: 2024: D+73.0 2020: D+76.6 2016: D+74.6 2012: D+76.4 2008: D+75.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -107.42%
• Current HPI: 164.3933
• Rent YoY: ▲ 6.10%
• Metro: Baltimore-Columbia-Towson, MD
• State GDP YoY: ▲ 2.97%
• F500 in state: 12

Industry mix (Fortune 500 HQ in MD)

Industry	F500 HQs	Revenue
▸Aerospace / Defense	1	$71B
▸Utilities	1	$25B
▸Hotels	1	$24B
▸Consumer Goods	1	$7B
▸Real Estate	1	$6B
▸Chemicals	1	$2B

Price history

+131.3% since first listed

41 events — show timeline

• 2026-05-06 Listing Removed — BRIGHT MLS
• 2026-05-06 Listed $250,000 BRIGHT MLS
• 2026-05-06 Listed $250,000 BRIGHT MLS
• 2026-05-06 Listing Removed — BRIGHT MLS
• 2026-03-11 Price Changed $245,000 BRIGHT MLS
• 2026-03-11 Price Changed $245,000 BRIGHT MLS
• 2026-02-12 Listing Removed — BRIGHT MLS
• 2026-02-12 Listed $285,000 BRIGHT MLS
• 2026-02-12 Listed $285,000 BRIGHT MLS
• 2025-10-27 Listed $285,000 BRIGHT MLS
• 2025-10-27 Listing Removed — BRIGHT MLS
• 2025-08-28 Price Changed $305,000 BRIGHT MLS
• 2025-08-12 Listed $315,000 BRIGHT MLS
• 2025-08-10 Coming Soon — BRIGHT MLS
• 2023-03-08 Sold (Public Records) $280,000 Public Records
• 2022-11-14 Pending — BRIGHT MLS
• 2022-11-14 Listing Removed — BRIGHT MLS
• 2022-10-20 Listed $280,000 BRIGHT MLS
• 2022-07-01 Pending — BRIGHT MLS
• 2022-07-01 Listing Removed — BRIGHT MLS
• 2022-05-02 Price Changed $150,000 BRIGHT MLS
• 2022-04-14 Listed $15,000 BRIGHT MLS
• 2022-02-23 Pending — BRIGHT MLS
• 2022-02-23 Listing Removed — BRIGHT MLS
• 2021-11-12 Listed $150,000 BRIGHT MLS
• 2019-07-08 Sold (Public Records) $120,000 Public Records
• 2019-04-19 Sold (MLS) $120,000 BRIGHT MLS
• 2019-04-12 Pending — BRIGHT MLS
• 2019-03-27 Relisted — BRIGHT MLS
• 2019-03-22 Listing Removed — BRIGHT MLS
• 2019-02-14 Contingent — BRIGHT MLS
• 2019-01-31 Listed $95,000 BRIGHT MLS
• 2016-05-02 Listed $30,000 MRIS
• 2016-05-02 Sold (MLS) $30,000 BRIGHT MLS
• 2016-05-02 Sold (MLS) $30,000 MRIS
• 2015-07-15 Delisted — MRIS
• 2015-07-15 Listing Removed — BRIGHT MLS
• 2013-04-09 Pending — MRIS
• 2013-03-18 Listed — MRIS
• 2013-03-18 Listed $50,000 BRIGHT MLS
• 2008-03-17 Sold (Public Records) $108,090 Public Records

Property tax history

+0.7%/yr

Latest (2025): $4,573 · +6.5% YoY. Source: county tax records.